[Federal Register Volume 59, Number 48 (Friday, March 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-5690]


[[Page Unknown]]

[Federal Register: March 11, 1994]


-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM
 

Creditanstalt-Bankverin, et al.; Notice of Applications to Engage 
de novo in Permissible Nonbanking Activities

    The companies listed in this notice have filed an application under 
Sec.  225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 
for the Board's approval under section 4(c)(8) of the Bank Holding 
Company Act (12 U.S.C. 1843(c)(8)) and Sec.  225.21(a) of Regulation Y 
(12 CFR 225.21(a)) to commence or to engage de novo, either directly or 
through a subsidiary, in a nonbanking activity that is listed in Sec.  
225.25 of Regulation Y as closely related to banking and permissible 
for bank holding companies. Unless otherwise noted, such activities 
will be conducted throughout the United States.
    Each application is available for immediate inspection at the 
Federal Reserve Bank indicated. Once the application has been accepted 
for processing, it will also be available for inspection at the offices 
of the Board of Governors. Interested persons may express their views 
in writing on the question whether consummation of the proposal can 
``reasonably be expected to produce benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, 
that outweigh possible adverse effects, such as undue concentration of 
resources, decreased or unfair competition, conflicts of interests, or 
unsound banking practices.'' Any request for a hearing on this question 
must be accompanied by a statement of the reasons a written 
presentation would not suffice in lieu of a hearing, identifying 
specifically any questions of fact that are in dispute, summarizing the 
evidence that would be presented at a hearing, and indicating how the 
party commenting would be aggrieved by approval of the proposal.
    Unless otherwise noted, comments regarding the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than March 31, 1994.
    A. Federal Reserve Bank of New York (William L. Rutledge, Vice 
President) 33 Liberty Street, New York, New York 10045:
    1. Creditanstalt-Bankverein, Vienna, Austria; to engage de novo 
through its subsidiary Creditanstalt Corporate Finance, Inc., Westport, 
Connecticut, in acquiring or servicing loans or other extensions of 
credit, for the Company's own account or for the account of others, 
such as would be made by a commercial finance company, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y.
    2. The Long-Term Credit Bank of Japan, Limited, Tokyo, Japan; to 
engage de novo through its subsidiary Capstar Partners, Inc., in the 
activities of leasing tangible personal property, or acting as agent, 
broker or adviser in leasing such property, in which the lessor relies 
on an estimated residual value of the property in excess of the 25 
percent limitation described in Sec.  225.25(b)(5)(i)(D)(3) of the 
Board's Regulation Y.
    B. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. First Western Bancorp, Inc., New Castle, Pennsylvania; to engage 
de novo through its subsidiary Residential Mortgage Company, New 
Castle, Pennsylvania, in conducting business consisting of making 
residential mortgage loans for its affiliates and others, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y.
    C. Federal Reserve Bank of Atlanta (Robert E. Heck, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. First Alabama Bancshares, Inc., Birmingham, Alabama, to engage 
de novo in leasing tangible personal property, or acting as agent, 
broker, or adviser in such property, utilizing residual values up to 
100 percent of acquisition cost, pursuant to Sec.  225.25(b)(5)(ii) of 
the Board's Regulation Y.
    D. Federal Reserve Bank of Chicago (David S. Epstein, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Old Kent Financial Corporation, Grand Rapids, Michigan, to 
engage de novo in investing in low income housing projects by making 
equity investments as a limited partner, pursuant to Sec.  225.25(b)(6) 
of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, March 7, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-5690 Filed 3-10-94; 8:45 am]
BILLING CODE 6210-01-F